The NFT market is continuing to struggle, according to figures from the latest DappRadar report. Confirming a worrying picture that is slowly beginning to crystallize. NFT trading volume dropped 38% from Q1 to Q2. NFT sales also saw a 9.2% decrease.
Trading volume refers to the total amount of currency (usually dollars) exchanged within a particular period. Sales, a more obvious metric, refers to the number of NFT purchases (or trades). Both figures together give a more accurate picture of the state of the market.
And in this case, it isn’t good. Looking at almost any metric, the NFT market still has not recovered to its pre-crash glory.
Number of NFT Traders at Unprecedented Lows
According to data from Dune, the number of unique buyers and sellers in the NFT market is down in the lower hundreds and continuing to decline.
For the last week that Dune has data on, there were 366 buyers and 441 sellers. In the last week of June 2022, there were 31,353 sellers and 28,756 buyers. A drop of epic proportions.
The collapse in traders happened suddenly over the beginning of 2023 when numbers fell by more than half within a week. By the second week of January, there were 2385 sellers and 2388 buyers.
Go to Source to See Full Article
Author: Josh Adams
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
Related Posts ...
Comments are disabled.